Birdwatch Note Rating
2023-03-19 00:14:09 UTC - HELPFUL
Rated by Participant: 09AE73946AB32F4C78F8F399EF60E2DDD4D5321F24F6CCA17C05F7A5B042F3DB
Participant Details
Original Note:
The 3% number Biden is referring to is based on a value increase of held investments (not on their income). However, these investments can also lose value which why they are taxed when sold and become income. Calculating on that, the avg tax rate for them is 25%, not 3. https://www.politifact.com/factchecks/2022/jul/13/joe-biden/joe-bidens-dubious-math-federal-income-tax-burden/
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